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In an endeavor to provide banking facilities to large and well spread out sections of the society, we have strived to establish our branches in all regions of the country. In this attempt, we have opened our 39th branch at Sandikharka, Argakhachi District. Mr Shambhu Prasad Marasini, CDO of Argakhachi District, inaugurated the branch. The main objective to establish the bank is to provide modern banking service in the remote area too. This branch is operating with full banking services where customers can make ABBS transaction (Withdrawal and Deposit from any EBL Branches), customer can deposit their saving in different saving schemes of the bank, SMS banking services–mobile recharge & monthly bill payment, internet banking services, online remittance facility from abroad and India. EBL debit card also has access at more than 650 ATMs of SCT network in Nepal and more than 4000 ATMs of Punjab National Bank in India whereby EBL customers going to India need not to carry cash and can withdraw cash through EBL debit cards from ATMs of PNB. Now the bank is providing banking services through 73 points viz.  39 branches, 5 revenue collection counters, 29 authorized representatives in VDCs through “Everest Ghar-Dailo Banking Sewa, a branchless banking system. As a part of its expansion strategy EBL plan to open new branches at some other places of the country. The bank has focused on rural area so that customer of the area can facilitate through modern banking facility.

15th December 2010Everest Bank inaugurates its 38th branch in Taulihawa In an endeavor to provide banking facilities to large and well spread out sections of the society, we have strived to establish our branches in all regions of the country. In this attempt, we have opened our 38th branch at Taulihawa, Kapilvastu District. Now the bank is providing banking services through 72 points viz.  38 branches, 5 revenue collection counters, 29 authorized representatives in VDCs through “Everest Ghar-Dailo Banking Sewa, a branchless banking system. Mr Laxman Kumar Thapa, CDO of Kapilvastu District, inaugurated the branch.

The bank also inaugurated its 36th ATM at Taulihawa. EBL debit card also has access at more than 650 ATMs of SCT network in Nepal and more than 4000 ATMs of Punjab National Bank in India whereby EBL customers going to India need not to carry cash and can withdraw cash through EBL debit cards from ATMs of PNB.

Everest Bank is the first and the only bank in Nepal to start branchless banking system-“Everest Ghar-Dailo Banking Sewa”. This service is unique delivery channel in banking services to facilitate rural people in banking with the help of sophisticated technology. This branchless banking service can be used through Point of Transaction (POT) machine by using smart cards. At present, the service is being provided by our B/O Baglung, Bhaktapur, Nepalgunj and Birtamod through 29 Business Correspondents. EBL introduced Mobile Banking (Bank on Wheel) for the first time in Nepal which is in operation since September 2007 at Birtamod.

As a part of its expansion strategy EBL plan to open new branches at Argakhachi and some other places.

Press Release
Everest Bank Inaugurated 35th ATM machine in Lekhnath, Kaski
Everest Bank Limited (EBL) started its operations in 1994 with a view and objective of extending professionalized and efficient banking services to various segments of the society. The bank is providing customer-friendly services through its 37 branches throughout Nepal and over 250 correspondent banks across the globe. All the branches of the bank are connected through Anywhere Branch Banking System (ABBS), which enables customers to do all their transactions from any branches other than where they have their account.

In Order to provide banking service through ATM to wide range of customer, the bank has installed its 35th ATM machine at Lekhnath on Lt. Col. Himanshu Bohra (Assistant Military Attache (P) and Officer In-charge, Embassy Of India (Pension Paying Camp-Pokhara) inaugurate the above ATM. As on date EBL has 35 ATMs at different locations both inside and outside Kathmandu Valley.
EBL Debit cards can be used at more than 4000 ATMs of Punjab National Bank, India spread all across India. Similarly, the Debit Card holders of PNB can withdraw their money from any ATMs of Everest Bank Limited. This sharing arrangement has benefited huge Nepalese Population residing in India including Students, businessmen, workers, Tourists to India, who want cheaper ATM facility for withdrawing money from their Bank accounts in Nepal. Besides cross border sharing, EBL Debit Card is accepted at more than 650 ATMs of SCT network and over more than 1400 merchant outlets in Nepal. At present, more than 146000 customers of EBL are having EBL Debit Card.

As a part of its expansion strategies EBL also plans to open branches and install ATMs at Taulihawa and Agrakhanchi shortly. The bank believes that its expansion to these strategic locations would adhere to its objective of serving the middle and lower section of the society.

23rd September, 2010

Everest Bank Ltd, a joint venture with Punjab National Bank, India, held its 16th Annual General Meeting at City Hall, Exhibition Marg, Kathmandu on 23rd September, 2010 (7th Ashwin, 2067). The Annual General Meeting (AGM) of the Shareholders approved among others, the declaration of 30% bonus shares and 30% cash dividend. The AGM also approved the financial statements ending 32nd Asadh 2067. After providing provisions for income tax and statutory provisions there was a disposable net profit of Rs.83.18 crore compared to Rs. 63.87 crore last year- an increase of 30.2%.  The Bank was able to increase its deposits by more than 10.83% and advances by 15.07% during the year compared to the previous year. Similarly, the bank recorded a growth of 26.6% in operating profit to Rs. 134.91 crore from Rs. 106.60 crore in the previous year. Against the Paid-Up Capital by shareholders of Rs 83.05 crore, the shareholders’ fund now amount to Rs 316.90 crore- with Core Capital base of Rs 255.90 crore. Earning Per Share has increased to Rs.100.16 from Rs. 99.99. The overall better performance has enhanced the image of the bank. Asset quality improved by reduction of NPA to 0.16% from 0.48% in the previous year. This is one of the lowest NPA among the commercial banks in Nepal. The Bank introduced in the country the branchless banking to cover villages with telephone lines. To begin with this has been introduced at Baglung in the western hills covering eight villages; at Bhaktapur in the valley covering five villages and at Nepalgunj covering six villages and Birtamode covering 11 villages. The Bank intends to cover more and more villages with this revolutionary new technology. The Bank has now fully operative 37 branches, one of the largest networks among the private sector bank in the country.

Everest Bank Launched New Saving Product-EBL Baal Bachat and EBL Naari Bachat.

Everest Bank has launched new saving products namely EBL Baal Bachat and EBL Naari Bachat to attract minor and household wives who want high yield on his/her savings. Interest on the saving account is 6.75% p.a. Under the scheme all banking facilities including modern banking (internet banking, SMS banking, utility bill payment etc) are provided and a customer can get 75% discount on issuance of EBL Debit Card and 25% discount on EBL locker facility. A customer can withdraw his/her balance at any time without any hassle through the cheque. The bank is providing the services through its 37 branch network which is spread through out the nation. The bank has been providing evening counter and 365 days banking facility to its customer.

Based on the audited results for the period ending Asadh 2067 Everest Bank’s net profit and operating profit increased as under:

The Earning Per Share (EPS) of the Bank for the year is Rs.100.16. The Board meeting of the Bank held on 21st Shrawan 2067 (6th August, 2010) has decided to recommend to the ensuing shareholder’s Annual General Meeting of 30% bonus share and 30% cash dividend to its shareholders subject to approval of the Nepal Rastra Bank. The Bank’s credit registered a growth of 15% reaching a figure to Rs.2815.64 crore. The total deposit of the Bank reached Rs.3693.23 crore. The NPA is further reduced from 0.48% to 0.16%. During the last financial year, the Bank opened five branches viz. Maitidevi, Kalimati and Thamel in the Valley and Tulsipur and Tatopani outside the Valley. Similarly, the Bank has further plans to expand its branch network during the current financial year 2067/68.

05th August,2010

Chairman and Managing Director (CMD), Punjab National Bank, India, Shri K.R. Kamat visited Kathmandu on 05th August, 2010. He along with Chairman of Everest Bank Limited, Mr B.K. Shrestha, called on Governor, Nepal Rastra Bank, Mr Yubaraj Khatiwada. Discussion was held on banking scenario in Nepal. CMD PNB offered to extend expertise on training farmers in Nepal for which Governor NRB showed positive interest. CMD PNB also offered to share experience particularly in the field of mutual fund, debt syndication. The CMD assured to bring better risk management and IT (Information Technology) skills  as also best corporate governance practices in Everest Bank Limited based on experience of PNB in these areas.

CMD PNB also called on the Indian Ambassador H.E. Rakesh Sood. During the Meeting CMD, PNB highlighted the strength of EBL as a commercial bank and the positive help being extended by PNB to EBL.

04th July 2010

Everest Bank inaugurates its 37th branch in Kalimati In an endeavor to provide banking facilities to large and well spread out sections of the society, we have strived to establish our branches in all regions of the country. In this attempt, we have opened our 37th branch at Kalimati, Kathmandu District. Now the bank is providing banking services through 75 points viz.  37 branches, 5 revenue collection counters, 33 authorized representatives in VDCs through “Everest Ghar-Dailo Banking Sewa, a branchless banking system. Mr Bir Bikram Raymajhi, Dy. Governor, NRB, inaugurated the branch at the event. The bank also inaugurated its 33rd ATM at the premises. EBL debit card also has access to more than 600 ATMs in Nepal and more than 3500 ATM locations in India where by EBL customers going to India need not to carry cash but simply withdraw through EBL debit cards. Everest Bank is the first and the only bank in Nepal to start branchless banking system-“Everest Ghar-Dailo Banking Sewa”. This service is unique delivery channel in banking services to facilitate rural people in banking with the help of sophisticated technology. This service is branchless banking service through point of transaction (POT) machine by using smart cards. At present, the service is being provided by our B/O Baglung, B/O Bhaktapur B/O Nepalgunj and B/O Birtamod through 33 Business Correspondent. Mobile Banking (Bank on Wheel) was introduced since September 2007 for the first time in Nepal As a part of its expansion strategies EBL also plans to open additional three branches in the near future.  

Everest Bank believes that the society contributes a lot to the development of any organization and hence, organization has also some responsibility towards the society. As part of corporate social Responsibility towards, it has been decided by the bank to donate Hydrocholator machine to M/s Siddhi Memorial Foundation, Bhaktapur on the occasion of 2nd  Anniversary of EBL Bhaktapur Branch.The machine is used for physiotheraphy. M/s Siddhi Memorial Foundation is a non-government organization. The Foundation has been running Siddhi Memorial Hospital and Siddhi Shaligram Briddhashram with the donation received from different organization and local people. Poor people are getting health service from Siddhi Memorial Hospital.   Our effort will help the organization to increase their service that will provide to poor people.

During the function Mr R.K. Ummat , CEO –Everest Bank Limited handed over the hospital equipment to Mr Shyam Sundar Dhaubadel, Founder of M/s Siddhi Memorial Foundation.
As per banks policy, it has been our endeavor to contribute to the social welfare activities such as women skill development, child education, setting up of health camp, blood donation camp, computer donation etc.
This small step of the bank may help the society for their betterment.

Everest Bank Limited (EBL)started its operation in 1994 with a view and objectives of extending professionalized and efficient banking services to various segments of the society .The bank has been offering various innovative products and services since its inception.

Everest Bank has launched a new saving product –Saugat Bachat Khata to attract new customer who wants high yield on his/her savings. The product is hybrid of normal saving and fixed deposit. Under the scheme, a customer can enjoyed up to 10% interest on his/her deposit. Minimum deposit for the account is NPR 5000/-. After certain deposit, amount in multiple of 25000/- will be automatically transfer to fixed deposit on which interest rate is up to 10%. A customer can withdraw his/her balance at any time without any hassle through the cheque. The bank is providing the services through its 36 branch network which is spread through out the nation.